Self-Storage Management Firm StoragePro Acquires Boutique Firm SIMISelf-Storage Management Firm StoragePro Acquires Boutique Firm SIMI

StoragePro Management Inc., which oversees 140-plus self-storage facilities in the West, has acquired Storage Investment Management Inc. (SIMI), a New York-based boutique self-storage management company. The acquisition aligns with StoragePro's goal to expand its national footprint, according to a press release.

The 20-property SIMI portfolio encompasses 1 million square feet and more than 8,700 units in Connecticut, Maine, Massachusetts and New York. Founded in 1988, it was most recently led by CEO and president Charlie Fritts, who passed away in August. In addition to property management, the company offers acquisition and development consulting.

“I am honored to continue the great work and legacy of Charlie Fritts,” said Steve Mirabito, founder and president of StoragePro. “With this acquisition, StoragePro will provide SIMI clients with the advanced technology and systems to maximize the value of their assets. We are excited to build new partnerships throughout New England and the mid-Atlantic states, and we look forward to helping owners achieve long-term success in this competitive market.”

Founded in 1974 and headquartered in Walnut Creek, California, StoragePro provides third-party management, digital marketing, operational systems and technology for self-storage properties. It has more than $2 billion in managed assets.

Related:Andover Lending Surpasses $250 Million in Self-Storage Loans Since Launch, Expands Service to Other Niche Businesses

Source: PR Web, StoragePRO Management Inc. Acquires New York-based Self-Storage Management Company Storage Investment Management Inc.